||Chelsea, MA - Tradesman's Bank $50 Sept. 2, 1863 MA-490 G14b SENC. PCGS Very Fine 20. A higher denomination from another well-engraved series of issued notes from the Newman Collection. A custom view executed for the title by the Rawdon, Wright, Hatch & Edson, New York/New England Bank Note Co., Boston imprint is at the top center. Depicted is a wide view of Chelsea Harbor at the confluence of the Mystic and Chelsea rivers, with ships at the docks and a view of the town in the background. The left and right have differing female allegories. At the left, she has diaphanous drapery and holds a goblet; at the right she waves the American flag, accompanied by a few cherubs. This note has an exceptional vermillion color protector added with large upper left counter and numerals, and worded denominations at the bottom center. It was issued and then redeemed by the succeeding National Bank in 1870, as seen by a short endorsement on the back. Punch Hole Cancelled as noted, through the signatures to prevent any further redemption. This is a bright and vibrant note, though it is trimmed closely in the "New England" manner characteristic of many Massachusetts issued notes. Ex: Eric P. Newman Numismatic Education Society.
Realized $2,467.50. Newman VI (Heritage Auctions, 4/2015), lot 19123. Description courtesy of Heritage Auctions.